African leaders must work engage private sector for climate financing

Abstract

Africa needs to mobilize its investments, to stimulate sustainable development on the continent to increase its resilience. According to International Institute for Environment and Development (IIED), Africa needs to rely on the private sector to engage the continent on a path of sustainable, low carbon emissions. Speaking at a parallel session themed: Climate change in Africa: financing sustainable pathways for development, it is now important for African governments to provide a favorable and reliable environment for investment. Furthermore, the proposed market and financing mechanisms should be suited to Africa's needs. The less advanced countries should be better targeted in order to better target funding.